New MLS Study: Homes Sold on MLS vs Sold Off-MLS
Boston Condos for Sale and Apartments for Rent
New MLS Study: Homes Sold on MLS vs Sold Off-MLS
The answer to the headline of the study is that homes sold On-MLS sold for 13% more than homes sold Off-MLS
Homes listed and sold on the MLS sold for an average of 13.0% more than comparable homes sold off-MLS. After controlling for property and neighborhood characteristics, this analysis found that homes marketed and sold on MLS between 2019 and the first quarter of 2022 had sales prices that were 13.0% higher than comparable homes that were not listed on the MLS.
Real Estate Office Exclusives
Ultimately, most homes that begin as office exclusives are not successfully sold that way, which extends the time period for a sale. Only 12.6% of properties that were initially marketed as office exclusives were successfully sold as an office exclusive. Nearly two-thirds (63.0%) of office exclusives were eventually promoted and sold on MLS. The remaining 24.4% of properties marketed as office exclusives between April 2021 and December 2021 had still not sold or may have been removed from the market as of the end of the first quarter of 2022.
Boston Condos for Sale and the Bottom Line
This recent study doesn’t surprise me, the more exposure you receive for your Boston condo for sale the better.
